Regulators in the U.S. and Canada Monday unveiled scores of investigations into potentially deceptive cryptocurrency investment products, The Washington Post reports.
It is the largest coordinated crackdown so far by state and provincial officials on cryptocurrency scams, according to the newspaper.
The North American Securities Administrators Association helped to coordinate the investigations. Regulators have opened as many as 70 probes, and as many as 35 are pending or completed.
“We’re putting ourselves in the shoes of investors. We’re seeing what’s being promoted to investors. And then we’re taking the next step and then we’re finding out whether they’re complying with securities laws,” said Joseph Borg, president of NASAA and the director of the Alabama Securities Commission.
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